Investments in and Advances to Joint Ventures (Tables)

9 Months Ended

Sep. 30, 2016

Schedule Of Equity Method Investments [Line Items]

Service Fees and Income Earned by Company

Service fees and income earned by the Company through management, leasing and development activities performed related to all of the Company’s unconsolidated joint ventures are as follows (in millions):

	Three Months				Nine Months
	Ended September 30,				Ended September 30,
	2016		2015		2016		2015
Management and other fees	$	6.3	$	6.5	$	22.2	$	19.6
Development fees and leasing commissions		2.2		1.6		5.9		4.8
Interest income		8.4		6.5		25.0		19.2

Unconsolidated Joint Ventures [Member]

Schedule Of Equity Method Investments [Line Items]

Condensed Combined Financial Information of Company's Unconsolidated Joint Venture Investments

Condensed combined financial information of the Company’s unconsolidated joint venture investments is as follows (in thousands):

	September 30, 2016			December 31, 2015
Condensed Combined Balance Sheets
Land	$	1,296,413		$	1,343,889
Buildings		3,398,184			3,551,227
Fixtures and tenant improvements		198,657			191,581
		4,893,254			5,086,697
Less: Accumulated depreciation		(854,821	)		(817,235	)
		4,038,433			4,269,462
Land held for development and construction in progress		51,967			52,390
Real estate, net		4,090,400			4,321,852
Cash and restricted cash		76,447			58,916
Receivables, net		50,461			52,768
Other assets		268,726			318,546
	$	4,486,034		$	4,752,082

Mortgage debt	$	3,095,354		$	3,177,603
Notes and accrued interest payable to the Company		2,481			1,556
Other liabilities		216,229			219,799
		3,314,064			3,398,958
Redeemable preferred equity – DDR		402,291			395,156
Accumulated equity		769,679			957,968
	$	4,486,034		$	4,752,082

Company's share of accumulated equity	$	95,577		$	115,871
Redeemable preferred equity		402,291			395,156
Basis differentials		(37,110	)		(42,402	)
Deferred development fees, net of portion related to the Company's interest		(2,630	)		(2,449	)
Amounts payable to the Company		2,481			1,556
Investments in and Advances to Joint Ventures	$	460,609		$	467,732

Condensed Combined Statements of Operations of Unconsolidated Joint Venture Investments

	Three Months						Nine Months
	Ended September 30,						Ended September 30,
	2016			2015			2016			2015
Condensed Combined Statements of Operations
Revenues from operations	$	127,676		$	126,698		$	384,476		$	397,364
Expenses from operations:
Operating expenses		35,547			35,438			110,176			110,494
Impairment charges		13,598			—			13,598			448
Depreciation and amortization		47,955			49,949			146,011			158,168
Interest expense		33,567			33,202			100,208			107,698
Preferred share expense		8,438			6,518			25,007			19,248
Other expense (income), net		5,829			6,309			17,959			18,503
		144,934			131,416			412,959			414,559
		(17,258	)		(4,718	)		(28,483	)		(17,195	)
Gain (loss) on disposition of real estate, net		658			(2,626	)		54,255			(4,197	)
Net (loss) income attributable to unconsolidated joint ventures	$	(16,600	)	$	(7,344	)	$	25,772		$	(21,392	)
Company's share of equity in net (loss) income of joint ventures	$	(1,755	)	$	336		$	10,336		$	1,406
Basis differential adjustments^(A)		298			312			3,745			945
Equity in net (loss) income of joint ventures	$	(1,457	)	$	648		$	14,081		$	2,351

(A)

The difference between the Company’s share of net income (loss), as reported above, and the amounts included in the Company’s consolidated statements of operations is attributable to the amortization of basis differentials, the recognition of deferred gains and differences in gain (loss) on sale of certain assets recognized due to the basis differentials and other than temporary impairment charges.